How do Malaysian Tax Practitioners charge a Tax Filing Fee for a Sole Proprietorship business?
A sole proprietor is a single person who owns a sole proprietorship business. All sole proprietors are required to file their income tax return every year. Here are the steps that a sole proprietorship in Malaysia can follow to declare its personal income tax: Step 1: Register for a Tax File Number (TIN) The sole […]
Recognise Your Income First, Then Only Eligible to Claim Bad and Doubtful Debt!
M Company v. Ketua Pengarah Hasil Dalam Negeri D Company awarded a contract to M Company (“the Appellant”) for site-clearing, earth filling and levelling works. The contract amount was RM3.4 million, payable over 6 months. M Company subcontracted the work to S company for RM3.2 million with a completion date of 18th January 1998. S […]
2023 Malaysian Tax Season: Preparing Form EA for Employees
The video was made with AI technology, and there are mistakes in the following areas, so please pay close attention to them. 视频通过 AI 科技制作，在以下的地方有口误，请大家稍微注意。 Subsidies on interest for housing, education, and car loans, full exemption if up to RM300,000 loan, etc. As the saying goes, only three things in life are certain: birth, death, […]
Transfer Pricing: Functional Analysis Checklist – R&D | 转让定价: 企业功能分析表 – 研发
Functional analysis plays an important role in the preparation of transfer pricing documentation. The importance of functional analysis can be attributed to the fact that it provides an overview of value creation within the supply chain, particularly related party transactions. It provides information on each party to a transaction regarding: In most cases, a functional […]
The Malaysian Tax System – Partnerships
A partnership is not considered a person under the law and is not treated as a separate and distinct entity for taxation purposes. But, a partnership is still required to file an income tax return. The Partnership Act 1961 was enacted in Malaysia to regulate partnerships. According to section 3(1) of the Partnership Act 1961, […]
The Malaysian Tax System – What is a Hindu Joint Family | 什么是印度教联合家庭？
A “body of persons” is included in the definition of “person” under the Income Tax Act 1967, and the former also covers a Hindu joint family. Under s 2 of the Income Tax Act 1967, a Hindu joint family means what in any system of law prevailing in India is known as a Hindu joint […]
Guideline on CP204 Payment [Updated on 7-2-2023]
We posted this on January 10, 2023 – https://www.ccs-co.com/post/guideline-on-cp204-payment Since Bill no. is now available for the company, in this post, we updated this. Our website’s articles, templates, and material are solely for you to look over. Although we make every effort to keep the information up to date and accurate, we make no representations […]
E 2022 Explanatory Notes and EA & EC Guide Notes
Download: Form EA 20
Consultative Documents on Proposed Review of Audit Exemption Criteria for Companies in Malaysia
19
The Rights of Employees in West Malaysia & Labuan
What Is Manual Labour? The Act does not define what constitutes a “manual worker,” The landmark case of Colgate Palmolive (M) Sdn Bhd v. Cheong Foo Weng & 12 Ors (and Another Appeal) [2002] 2 AMR 2107 defined the phrase “manual labour” as including the following activities: “Manual labour involves physical exertion as opposed to […]
